For the quarter ending 2025-09-30, MBWM made $164,422,000 in revenue. $23,758,000 in net income. Net profit margin of 14.45%.
| Income Statement | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 |
|---|---|---|---|---|
| Loans, including fees | 75,040,000 | 73,962,000 | 71,992,000 | 72,514,000 |
| Securities, taxable | 5,041,000 | 4,679,000 | 4,239,000 | 3,057,500 |
| Securities, tax-exempt | 1,259,000 | 1,181,000 | 1,172,000 | 1,049,500 |
| Interest-earning deposits | 4,303,000 | 2,136,000 | 2,935,000 | 2,984,500 |
| Total interest income | 85,643,000 | 81,958,000 | 80,338,000 | 79,605,500 |
| Deposits | 26,817,000 | 25,725,000 | 25,192,000 | 24,548,500 |
| Short-term borrowings | 1,974,000 | 1,919,000 | 1,763,000 | 1,870,500 |
| Federal home loan bank advances | 2,895,000 | 2,897,000 | 2,898,000 | 3,274,000 |
| Subordinated debt and other borrowings | 1,955,000 | 1,938,000 | 1,937,000 | 2,051,500 |
| Total interest expense | 33,641,000 | 32,479,000 | 31,790,000 | 31,744,500 |
| Net interest income | 52,002,000 | 49,479,000 | 48,548,000 | 47,861,000 |
| Provision for credit losses | 200,000 | 1,600,000 | 2,100,000 | 1,400,000 |
| Net interest income after provision for credit losses | 51,802,000 | 47,879,000 | 46,448,000 | 46,461,000 |
| Noninterest revenue-Service Charges On Deposit And Sweep Accounts | 2,064,000 | 1,967,000 | - | - |
| Noninterest revenue-Interest Rate Swap Fees | - | 1,230,000 | - | - |
| Mortgage banking income | 3,066,000 | 3,969,000 | 2,651,000 | 2,976,500 |
| Noninterest revenue-Credit And Debit Card | 2,371,000 | 2,350,000 | - | - |
| Noninterest revenue-Interest Rate Swap Fees | 377,000 | - | - | - |
| Noninterest revenue-Payroll Processing | 825,000 | - | - | - |
| Earnings on bank owned life insurance | 858,000 | 561,000 | 543,000 | 834,500 |
| Interest rate swap program fees | - | - | - | 1,027,500 |
| Noninterest revenue | - | - | 5,160,000 | 3,847,500 |
| Noninterest revenue-Payroll Processing | - | 783,000 | - | - |
| Payroll processing | - | - | - | 829,500 |
| Other income | 827,000 | 602,000 | 348,000 | 1,005,000 |
| Total noninterest income | 10,388,000 | 11,462,000 | 8,702,000 | 10,520,500 |
| Salaries and benefits | 21,094,000 | 20,711,000 | 19,557,000 | 19,859,500 |
| Fdic insurance costs | - | - | - | 624,250 |
| Occupancy | 2,122,000 | 2,155,000 | 2,118,000 | 2,138,500 |
| Furniture and equipment depreciation, rent and maintenance | 846,000 | 826,000 | 787,000 | 927,500 |
| Advertising | - | - | - | 401,000 |
| Data processing costs | 3,945,000 | 3,599,000 | 3,770,000 | 3,460,000 |
| Charitable foundation contributions | 300,000 | 2,000 | 3,000 | 568,000 |
| Acquisition costs | 606,000 | - | - | - |
| Other expense | 5,837,000 | 6,086,000 | 4,869,000 | 2,586,500 |
| Total noninterest expense | 34,750,000 | 33,379,000 | 31,104,000 | 31,874,500 |
| Income before federal income tax expense | 27,440,000 | 25,962,000 | 24,046,000 | 25,107,000 |
| Federal income tax expense | 3,682,000 | 3,344,000 | 4,509,000 | 4,512,500 |
| Net income | 23,758,000 | 22,618,000 | 19,537,000 | 20,594,500 |
| Average basic shares outstanding (in shares) | 16,249,267 | 16,239,919 | 16,197,978 | -8,065,218.5 |
| Average diluted shares outstanding (in shares) | 16,249,267 | 16,239,919 | 16,197,978 | -8,065,218.5 |
| Basic earnings per share (in dollars per share) | 1.46 | 1.39 | 1.21 | 1.27 |
| Diluted earnings per share (in dollars per share) | 1.46 | 1.39 | 1.21 | 1.27 |
MERCANTILE BANK CORP (MBWM)
MERCANTILE BANK CORP (MBWM)